A group of Italian companies are buying the assets of the soccer and ballet movements company Mossa and the sports equipment manufacturer ASL, the companies said in a joint statement on Monday.
The group will invest $2.5 billion, including its assets in the two companies, according to the statement.
The Italian-Spanish group is the first Italian company to buy the assets.
Mossa was formed in 1891 and its assets include more than 1,000 brands in sports equipment, clothing, shoes, gloves, handbags and more.
The sports equipment company is part of ASL.
The companies have a global workforce of approximately 1,300 people.